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Americans have changed a lot over the last 100 years – we live longer and have more
active lives and our society and financial structures have evolved (and devolved).

However, many of our ideas about retirement and retirement planning come from
previous generations. These ideas are ill suited to today’s realities.

What Are the Rules of a “NEW Retirement?”

1. Retirement Planning for Everyone

We started NewRetirement.com to help our own parents and the millions of baby
boomers and seniors like them to retire securely.

Our parents came to us for retirement planning help and we realized that a NEW
Retirement was needed:

Most people do not have the resources to hire a financial advisor

Most financial advice is geared toward wealthy households, not the average retiree

Retirement planning is a very complex and tremendously important endeavor

Our goals are to:

Make retirement planning – high quality information and resources – available to everyone.

Focuses on products and strategies for the Main Street retiree – not just the super wealthy.

Recent research suggests that only about 20 percent of all households nearing
retirement actually had a plan and that up to 65% of households are at risk of not being
able to maintain their standard of living in retirement.

We hope that our information and tools can shift these trends and help you create a viable plan.

Use our articles, calculators and community to help create your own NEW Retirement.

The Retirement Calculator can

Assess your existing plan

Estimate when you will run out of money

Help determine how much money you need

Suggest ways to improve your plan

And much more...

2. Retirement and Longevity – Planning for Longer and Healthier Lives

Perhaps the best news of a “NEW Retirement” is that you are likely to
live a significantly longer and healthier life than your own parents.

In the 1950s, people retiring at age 65 lived until 78. Today’s retirees can
expect an average lifespan of 83 or 84 years – which means that
half of you will live even much longer than that.

Your expanded lifespan means many things:

That your retirement savings will need to last longer

Your overall health-related costs will be higher now than ever before

You will need to plan for different phases of retirement – each with its
own financial requirements

Use the Retirement Calculator to determine how long your savings
will last in retirement and much more...

Retiring in your sixties is a relatively new phenomenon. For most of our history,
people either worked until they died or until they physically could not labor any longer.

According to the Bureau of Labor Statistics, there has been an incredibly steep
decline of over 65 year old men participating in the Labor Force.

In 1880 78 percent of men over the age of 65 were working.

In 2000 only 17.5 percent of men over the age of 65 were working.

While a NEW Retirement still stands for relaxed golden years. We believe that it is
necessary for the average retiree to reconsider their own retirement target date.
And for those already retired, it may be critically important to your financial well
being to go back to work in some capacity.

And recent data suggests that this – retiring later and working in retirement – is indeed happening….

From the 1990s through the 2000s, housing prices rose dramatically. If you owned a
house near the beginning of this run up – like many baby boomers – your
home equity probably grew tremendously.

This housing price appreciation is helping many baby boomers to make retirement viable.
Home equity represents the biggest source of wealth for most households in or nearing
retirement. This equity can – in some cases – make up for a lack of savings
in your financial profile.

To use home equity for retirement expenses, retirees often consider downsizing, cash out
refinancing and Reverse Mortgages.

However, retirees need to consider carefully how and when they tap their equity. In a NEW
Retirement, retirees use their home equity to help make retirement work, but they do so carefully:

Be holistic and comprehensive – Look at all of your resources and goals and
include home equity as part of a larger financial view.

8. Plan for Your Own Retirement and Also the Needs of Your Own Parents and Children

Another advantage of longer lives is that multiple generations are living and
interacting with each other. Today’s retirees often find themselves caring for
themselves, their children and their own parents.

This can be a source of great financial complexity – NEW Retirement plans often
need to be intergenerational.

In many cases, a NEW Retirement leverages the needs and resources of overlapping generations.